YGM TRADING (00375) announced that the company proposes to implement a capital reduction, reducing the paid-up share capital from HK$384 million (as of the announcement date) by HK$364 million to HK$20 million. The proceeds arising from the capital reduction will be credited to the company's capital reduction reserve account and, in accordance with Section 214 of the Companies Ordinance, will be treated as realized profits that can be applied to offset any accumulated losses and/or make distributions to shareholders.
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